> Increasingly I see barely literate people being passed through the system. I pass people who don’t deserve to pass because I’m hounded by administration on the importance of having a high passing rate.

This is exactly how higher education works in many 3rd world countries, including where I come from (and America have a president to match now). Except that student loan industry is not a thing there yet. Many people do obliterate their savings or sell their land and other assets to send their kids to school. Instead of paying back loans, many also pay huge amount of bribes to place their kids in better (government) jobs.